Message #2 From:
NewsBot Date: November 27, 2006 03:00:00 AM
COGC News California Oil & Gas Corp. Closes Private Placement
CALGARY, Alberta--(BUSINESS WIRE)--California Oil & Gas Corp. (OTCBB: COGC) is pleased to announce that it
has completed a private placement in which it sold 1,428,620 units at a
price of US $0.70 per unit for gross proceeds of US $1,000,034. Each
unit consisted of one common share and one share purchase warrant that
entitles the holder to purchase one additional common share at an
exercise price of US$1.00 for a period of 18 months after closing. The
common shares and the share purchase warrants included in the units have
not been registered under the Securities Act of 1933 and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements, but the Company
has agreed to file a registration statement covering these securities
with the Securities and Exchange Commission.
The Company intends to use the proceeds from this private placement for
working capital to advance its projects in California and Louisiana.
